Short Butterfly Dec 2015 - Performance Report Week 41/2015

Just in short the results from last weeks trading: The European market went sideways and tended slightly upwards. All short options are completely in the range. I closed my protective put option spread during the week, so that I am naked on the downside now. I feel fine taking that risk as I am still short 2 call options at 3,150 and 2,950 points that should provide me some buffer. But still, I am shooting for another spread until December for less than 20 points below the strike of 3,000 points. At the moment, the spread at 2,750/ 2,950 comes into my mind trading at 24 points.

The maximum profit can be reach if we close in December at 3,150 points. As I am planning to close early in November, I am still monitoring the market every day. The volatility came down a lot since the the last drop at the end of August.

Next steps need to be take at 3,450 points (selling short call) and below 2,950 points (selling short put). The October long call protection at 3,400 is going to expire worthless. I think I will add another one after I got my bottom line safe with new put option protection.

At the moment is earnings seaons and you never know what the next day will bring!